Everyone - or many - were scandalized when the 3 auto execs flew to Washington and went to Capitol Hill and asked for money for the auto industry but had NO PLAN what to do with the money. The auto execs looked foolish - imagine asking for big money with no plan!The auto execs got sent home to return another day if and when they got a plan for what they would do with the money. ... read more
A GretaWire blogger posted this in comments and wanted to make sure you see it....read and comment:
------------
URGENT PLEASE READ !!!!! says:May 23, 2009 at 8:46 pm(Edit)
Hi Greta Please read this post it s from our local craigslist. And it s very sad :(
Flag this commentReply
----------------
... read more
Check out the headline and quote from today's New York Times:
U.S. Expected to Own 70% of Restructured G.M.
The above headline tells us what is going to happen after General Motors (soon to be "Government Motors") files for bankruptcy (expected Monday.) If you read the article you will read the really scary (dumb?) part. Check out what is in the article:
"....The day-to-day running of the ... read more
As you know, our Federal Government has big bills -- not just to run the country and the wars, but for all the bailouts. It gets its revenue from tax payments. Well....the revenue collected this April, is 34 % LESS than the year before. So now what? If you missed ON THE RECORD at 10pm last night, watch this:
... read more
"....The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined..."
I lifted the above paragraph from USA Today (tipped off from Drudge Report.) Click here to read the article.Note ... read more
I just read in the paper that "if federal regulators approve," some banks that are strong can begin to give back the money they got from us/taxpayers from TARP fund. Â Why do the banks need federal approval? What's wrong with just paying it back because it is owed and because they can? Â Apparently JP Morgan Chase is ready to reimburse 25 BILLION but they need the OK from Treasury. Sounds ok to ... read more
I just read an article in the Wall Street Journal by John Stoll and two others headlined A Saga of Decline and Denial. Another possible headline could be: GM management has been delusional. Read the article and see if you don't agree. It appears the managment was incompetent at best --- a good example was their absurd private jets flight to DC to ask for billions of dollars and yet had no plan. It ... read more
[By the way -- don't forget to vote in the poll on the right hand side of GretaWire.]David Cole (below) criticizes me for my comments about the automotive industry. I wanted to give him a fair chance to air his criticism (see below plus the link) and also explain my comments. Yes, it is indeed true that the auto industry has collapsed in part because of the failure of a true national ... read more
Rep Mark Kirk went ON THE RECORD at 10pm tonight. Â He was just in China with Treasury Secretary Geitner and he said the Chinese laughed at the Treasury Secretary. Â Check this out:
 ... read more
May 12, 2009 06:50 PM EDT
HHM...
UPDATE 6:52PM (TUESDAY):
I POSTED THIS BLOG ENTRY YESTERDAY....
....AND WHAT HAPPENED TODAY, THE DAY AFTER THE EXECS SOLD THEIR STOCK???
GM STOCK DIPPED TO ITS LOWEST SINCE 1933!!!! (and yet the execs sold some of their stock yesterday before it tanked to 1933 levels!)
CLICK HERE TO READ THE ARTICLE! ****************************************************************** BELOW WAS POSTED ... read more0 Comments